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Entertainment Master’s: Business Finance
My original Goal for this class was to get a better understanding of what it would take to truly launch my entertainment company. While I’m still on the fence about when exactly I’ll launch, I now have a better understanding of what my first year would cost. I also realize I need to start buying equipment now or start saving more to add to start-up. I thought about creating a specific project for my launch then using the project for Kickstarter. That way I could develop or connect with a new customer base by giving them incentives for investing and advertising the product.
I thought this class would be slightly more focused on the finance aspect of the entertainment business given my degree plan. But I enjoyed the fact that it was easily applied to various business models. I respect the course and learned a lot of techniques and tips to apply not to just business but personal as well. I learned how to calculate how much I’m spending in the long run when given a specific Interest rate. I also got an opportunity to think and explore personal investments.
I will also admit that this class was a lot more challenging than I thought it would be. I’m not a math whiz but I’ve managed contracts for the federal government. The terms and payments are clearly outlined. In the 3rd quarter of the year prior you turn in a report that tells if the contract stayed on schedule or if there were any issues. This gave me so much more to think about.
Overall, I enjoyed this class and I am walking away with a better understanding of the basics to business finance. I realize that I may need a little help with taxes and accounting. I know now that I need to be able to determine which option will better suit my business in the long term.
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Business Storytelling & Brand Development Mastery
My original goal for this class was to complete the class with a solid ideal of how I would promote and really set my business apart from other businesses. I don’t quite have it all worked out yet but I have begun working on the actual business logo. Unfortunately, while I did make progress I didn’t quite meet the measure. I did learn a lot about what makes a good brand and how some of the top brand separate themselves from others. The most important thing I learned was you can have a good product and solid advertisement but you need a way to connect with your desired audience.
I think the class also made me realize it’s not as easy as it seems to make your business stand out it takes years for companies to get the right model down. Many of the large companies have advertising department so I think I’ll have to think of ways to reach my target audience without spending a lot of money. I now have an understanding of why a PEST analysis is important. It could mean all the difference in taking a lost by investing in project that likely won’t succeed and investing in a solid idea that could set the company up for success.
I want my company to not only be successful and profitable but has a positive impact on the community. After taking this class I also feel that its important for me to focus on a few things first. Once I have that sector of my company up and running maybe then it will be feasible to open the other branches. Right now my family is working on an animated project perhaps I’ll focus on that project first so that it can highlight all portions of our production studio.
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I believe that I’m more of a Maxwell type leader based on personality. I’m not as aggressive as the Greene book presents a leader to be. I believe that a leader owes their team some level of service and loyalty. I believe there is a fine line between telling the truth and putting your neck on the line for someone you believe in. In the beginning of my career as a HR professional I was on active duty. I operated as a leader based on my position on rank. It came with the title of sergeant.
My first set of soldiers often questioned my instruction and found ways to circumvent me. But it wasn’t until my senior leadership was absent that I understood what truly came along with the title. I had to not only guide and instruct them daily, I had to conduct military training weekly, counsel, recommend discipline, and ensure I kept track of them when we were on missions. I had received permission to lead because they trusted and depended on me as much as I had to trust and depend on them. Once we were all on the same page we were able to enhance performance and production.
Our work load was ahead of other personnel shops in our battalion because we had our organized system that was proactive instead of reactive. I believe all my soldiers and assistants should advance to their potential. I carried this idea over into my career at the VA and even with music and art in my life. I encourage others to seek knowledge and set goals they want to reach. I promote trainings I see available that would assist with what we do. I find it easy to resolve issues as they arrive and I’m always willing to give viable solutions to the problem. I wholeheartedly believe that all people have potential. It is the energy that the person lives in that sets the tone for their lives. If you always think and act negatively, that energy reflects off of you. I am generally a positive person who doesn’t mind rolling my sleeves up and working along-side my team to get the job done. But I have to learn when to back off and let them move and think on their own. I think all of these are important qualities and Maxwell’s book allows you to analyze and figure out what you need to work on.
Works Cited
Greene, R. (1998). 48 Laws of Power. New York, NY, USA: Penguin Books.
Maxwell, J. C. (1993). Developing the Leader Within You. Nashville, TN, USA: Thomas Nelson.
http://www.theleaderinme.org
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Project Management: Self Exploration
The last 4 weeks has been a roller coaster for me. I’ve learned a lot about my leadership style and some intimate details about my personality. I learned that maybe I compromise too much. My personality may be too laid back. That maybe its time to be more assertive about what I want. Instead of always bending to meet the need of others. I also learned that I have a natural ability to influence others but I need to embrace my inner dominance. The general idea of valuing you employees didn’t change but the approach did. I realized that employees must be included in the process of not only complaining or conflict resolution but at every level of creation and release.
I was able to begin crafting a solid business idea and learned the questions I needed to be asking myself all along. How will my customers perceive the project. How to market the project and who my target audience is. I learned that be successful one has to embrace there best qualities and find positive ways to improve the negative qualities. For me finding the balance between work, home, school, and business is difficult. This class made me realize how important proper planning and scheduling can be to the success of any project.
Overall, the biggest thing I’m taking away from this class is a solid template to build my next project and business on. Moving forward I can approach projects in a much more organized fashion. All unknowns can clearly be laid out for me and the team to consider before starting the project.
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Leadership Style (Maxwell)
I believe that I’m more of a Maxwell type leader based on personality. I’m not as aggressive as Greene book presents a leader to be. I believe that a leader owes their team some level of service and loyalty. While I believe there is a fine line between telling the truth and putting your neck on the line for someone you believe in. In the beginning of my career as a HR professional I was on active duty. I operated as a leader based on my position or rank. It came with the title of Sergeant.
My first set of soldiers’ often questioned my instruction and found ways to circumvent me. But it wasn’t until my senior leadership was absent that I understood what truly came along with the title. I had to not only guide and instruct them daily I had to conduct military training weekly, counsel, recommend discipline, and ensure I kept track of them when we on missions. I had received the permission to lead because they trusted and depended on me as much as I had to trust and depend on them. Once we were all on the same page we were able to enhance performance and production.
Our work load was ahead of other personnel shops in our Battalion because had our organized system that was proactive instead of reactive. I believe all my soldiers and assistants should advance to their potential. I carried this idea over into my career at the VA and even with music and art in my life. I encourage others to seek knowledge and set goals they want to reach. I promote trainings I see available that would assist with what we do. I find it easy to resolve issues as they arrive and I’m always willing to give viable solutions to the problem. I wholeheartedly believe that all people have potential it’s the energy that the person lives in that sets the tone for their lives. If you always think and act negatively that energy reflects off of you. I am generally a positive person who doesn’t mind rolling my sleeves up and working along side my team to get the job done. But I have to learn when to back off and let them move and think on their own. I think all of these are important qualities and Maxwell’s book allows you to analyze and figure out what you need to work on.
Works Cited
Maxwell, J. C. (1993). Developing the Leader Within You. Nashville, TN, USA: Thomas Nelson.
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I love this song. I feel like some people are just negative. They complain about everything and everyone. I need to learn how to block out the negative energy. I also hate defending myself because I feel I’m not getting a chance to be heard. This song is infectious it definitely will get me through work tomorrow.
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Inspiration #2
I’m having a rough week. I feel like I needed to say this to myself a few times. Eleanor Roosevelt was a bold outspoken 1st lady who was not only smart but beautiful. In my eyes I’m extremely critical of myself. This critical view often makes me feel inferior to the people around me. Part of my journey is owning it all. So I’m doing just that. I am not inferior to anyone and I need to remember it.
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Here’s a link to my professional profile.
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Inspiration #1
My Family. Everything I do I do it for the benefit of my children. My inspiration this week comes from the desire to prove to my children then can do anything they put their minds to. After living through several months of homelessness in Los Angeles I know I can beat anything. I believe they push me to continue to push past obstacles.
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My Mastery Journey
I am walking into my mastery program with a few goals in mind. The first is I’m going to earn a better GPA than I did in my previous program. I want to be an honors graduate. It isn’t a life changing moment but I’m using my journey as a way to spark some fire under both my daughter and I. As a teenager its hard for her to understand its a marathon not a race. She can’t just snap her fingers and be successful. she has to put in the work. I realized I needed to learn the same thing. I also needed to understand that I am my biggest obstacle at this time. I keep waiting for something to happen but I realize I need to make it happen. I have to put in the work.
My second goal its to use my program as a guide for some short term goals. My goals lately have been focused on what I want to do with my life; not the steps in between to get to the goal. I believe this is one of the major problems with new years resolutions. Most people set this random goal with no thought of what it will take to accomplish the task. I’m taking the next 11 months one month at a time. Meaning I understand my goal is to have my business open next year. So there are some short term goals that I need to accomplish. I have started building my list and will set specific tasks for each month.
My final goal for my mastery journey is to really embrace the information being provided. I think that I’ve lost my child like wonder so sometimes I make things too technical. I become intimidated and shut down for awhile. I understand the information but sometimes its hard to shake bad habits and stop making excuses. For example learning to play the piano. I could be ten times better than I am right now if I had put in the practice daily as recommended by one of my instructors during year one of my bachelors program. Instead I kept making excuses as to why I didn't have enough time to practice. By embracing the concepts taught in my current class I believe I’ll be successful at reaching my goal. One step at a time.
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